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mehrshad 🎩
@mershad
The U.S. Securities and Exchange Commission (SEC) has sanctioned former Genesis CEO Michael Morrow for misleading cryptocurrency investors during the 2022 collapse of Three Arrows Capital (TAC). ‏ The SEC found that Morrow improperly downplayed Genesis’ financial risks and misrepresented its stability after TAC defaulted on a $2.4 billion loan. Genesis filed for bankruptcy in early 2023. Morrow was ordered to cease and desist from violating securities laws and pay a civil penalty of $500,000
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